1. Buying new when used would do

Bad move: Yes, a shiny new car will impress the Joneses — for a little while. But shelling out $20,000 to $30,000 for a new car is potentially disastrous to your long-term financial picture.

Better move: Let’s say you buy a car for $15,000 instead of $30,000. Then, you take the $15,000 you saved, earmark it for a retirement account and invest it in a mutual fund that earns an average 8% a year over the next 30 years.

At the end of that time, you’ll have around $150,000 — and that “compromise” car will be long forgotten.

So, invest in your future and avoid a monster depreciation hit by buying used instead of new. Cars are made better today than ever before, which makes buying them used less risky.

The choices is yours: A few “oohs” and “ahs” from your neighbor today, or an extra $150,000 in retirement.

2. Paying retail for stuff you rarely use

Bad move: Perhaps you live in a place where you get just a handful of snowstorms every year. If so, does it make sense to go out and spend thousands of dollars on a snow blower you will use three or four times a year?

Better move: Borrow rarely used stuff from friends or family. Other options are to rent what you need, or to form a neighborhood co-op to share the expense, storage and use among the people on your block. After all, sharing a few things with a neighbor can reduce both cost and clutter by 50%.

3. Paying extra for low deductibles

Bad move: Everybody hates paying a high deductible. It feels outrageous to first pay an annual or semi-annual insurance premium, then have to fork over $500 or $1,000 per claim before your coverage even kicks in.

But claims are — or should be — rare. Odds strongly favor a higher deductible leading to increased savings over time.

Better move: Self-insure by raising your deductibles to as high a level as you can comfortably afford. Raising home insurance from $500 to $1,000 can cut your premium by 25%, according to the Insurance Information Institute.

7. Passing up retirement plans

Bad move: Not participating in your employer’s 401(k) or other retirement plan can be like throwing away free cash, since many employers match a certain percentage of employee contributions. By not participating, you also miss out on potential tax deductions.

Better move: Sock all the money you can spare into a tax-advantaged retirement plan like a company 401(k).